senate Bill S1778

2019-2020 Legislative Session

Relates to establishing the empire state public bank

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 16, 2019 referred to finance

Co-Sponsors

S1778 (ACTIVE) - Details

See Assembly Version of this Bill:
A437
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§254 - 277, St Fin L
Versions Introduced in 2017-2018 Legislative Session:
S8428, A10431

S1778 (ACTIVE) - Summary

Relates to establishing the empire state public bank to use the state's depository assets to generate additional benefit for the people and the economy of the state.

S1778 (ACTIVE) - Sponsor Memo

S1778 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1778

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 16, 2019
                               ___________

Introduced by Sen. SEPULVEDA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN  ACT  to amend the state finance law, in relation to establishing the
  empire state public bank; and providing  for  the  repeal  of  certain
  provisions upon expiration thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The state finance law is amended by adding a new article 17
to read as follows:
                               ARTICLE 17
                        EMPIRE STATE PUBLIC BANK
SECTION 254. LEGISLATIVE INTENT.
        255. DEFINITIONS.
        256. CREATION.
        257. COMMISSION.
        258. TRANSITION BOARD.
        259. DEPOSIT OF PUBLIC FUNDS.
        260. INVESTMENT OF STATE MONEYS.
        261. INFRASTRUCTURE LOANS.
        262. STUDENT LOANS.
        263. BUSINESS, NON-PROFIT AND INDIVIDUAL LOANS.
        264. TREASURY AND BANKING SERVICES.
        265. MANAGEMENT.
        266. ADVISORY BOARD.
        267. FINANCIAL REGULATION.
        268. REPORTING REQUIREMENTS.
        269. ETHICAL REQUIREMENTS.
        270. FEES AND TAXES.
        271. BANK RECORDS.
        272. CAPITALIZATION.
        273. PUBLIC DEPOSITARY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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